11 & 12 - Tax Increment Financing Reinvestment Zone Number One - Bylaws, Final Project Plan and Financing PlanItem Nos. 11 & 12
memorandum
TO: Mayor & City Council
Gene Anderson, Interim City Manager
FROM: Carla Easton, PE, Director of Engineering Planning & Community Development
SUBJECT: TIRZ NO. 1 BOARD BY-LAWS, FINANCE PLAN, AND PROJECT PLAN
DATE: February 18, 2020
BACKGROUND: In November 2019, the City Council adopted an ordinance creating the first
Tax Increment Reinvestment Zone for Paris, realizing the need to set aside future funds for
reinvestment in the downtown area. In December 2019, the Council appointed five members to
the TIRZ board of directors, and on February 11, 2020, the first board meeting was held to establish
by-laws and adopt the initial finance plan and project plan.
STATUS OF ISSUE: Three members attended the board meeting, and upon review of the by-
laws, finance plan, and project plan with TIF consultant Larry Cline, the board unanimously voted
to recommend adoption of all three. Attached for your consideration are the Tax Reinvestment
Zone Number 1 Board By -Laws, Finance Plan, and Project Plan as recommended for approval by
the Board of Directors. Mr. Cline will be available at the council meeting to present this
information and answer any questions.
BUDGET: NA.
RECOMMENDATION: Approval of a resolution adopting Reinvestment Zone Number 1 Board
of Directors' Bylaws; and an ordinance adopting the Finance Plan, and Project Plan.
RESOLUTION NO.
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS;
ADOPTING THE BYLAWS OF THE BOARD OF DIRECTORS OF THE CITY OF
PARIS TAX INCREMENT FINANCING REINVESTMENT ZONE NO. 1; MAKING
OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND
DECLARING AN EFFECTIVE DATE.
WHEREAS, on November 11, 2019, the City Council of the City of Paris adopted
Ordinance No. 2019-045 creating Tax Increment Financing Reinvestment Zone No.1 and a board
directors therefor; and
WHEREAS, on December 9, 2020, the City Council appointed a five (5) member board of
directors for said Tax Increment Financing Reinvestment Zone No. 1 (the "TIRZ Board"); and
WHEREAS, said TIRZ Board met on February 11, 2020 in a public meeting, duly
advertised as required by law, and adopted the Paris Tax Increment Financing Reinvestment
Zone No. 1 Bylaws, a copy of which is attached hereto as Exhibit A and incorporated herein by
reference; and
WHEREAS, it is deemed appropriate and in the best interest of the City of Paris and its
citizens that said Bylaws be hereby approved;
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PARIS,
TEXAS, THAT:
Section 1. The findings set out in the preamble to this resolution are hereby in all
things approved.
Section 2. That the Paris Tax Increment Financing Reinvestment Zone No. 1 Bylaws,
a copy of which is attached hereto as Exhibit A and incorporated herein by reference are hereby
approved and adopted.
Section 3. This resolution shall be effective immediately upon passage.
DULY PASSED AND APPROVED this 24th day of February, 2020.
Steven J. Clifford, M.D., Mayor
ATTEST:
Janice Ellis, City Clerk
APPROVED AS TO FORM:
Stephanie H. Harris, City Attorney
City of Paris
Paris Tax Increment Financing Reinvestment Zone No. 1
BYLAWS
ARTICLE I
POWERS AND PURPOSE
Section 1. Financinx Develo )ment or Redevelo meat in the Zone. In order to implement
the purposes for which Tax Increment Financing Reinvestment Zone No. One, City of Paris,
Texas (the "Zone") was formed, as set forth in Ordinance No. - _, dated October 28,
2019, creating the Zone, the City of Paris, Texas (the "City") may issue obligations to finance all
or part of the cost of implementing the "project plan" for the Zone as defined in the Tax
Increment Financing Act of the Tax Code, Chapter 311, Vernon's Texas Codes Annotated (the
"Act").
Section 2. Books and Records: Approval of Programs and Financial Statements. The
Board of Directors shall keep correct and complete books and records of account and shall also
keep minutes of its proceedings and the proceedings of committees having any of the authority of
the Board of Directors. All books and records of the Zone may be inspected by any director or
his agent or attorney for any proper purpose at any reasonable time; and at all times the City
Council and the City Auditor will have access to the books and records of the Zone. The City
Council must approve all programs and expenditures for the Zone and annually review any
financial statements of the Zone.
ARTICLE II
BOARD OF DIRECTORS
Section 1. Powers Number and Term of Office. The property and affairs of the Zone
shall be managed and controlled by the City Council based on the recommendations of the Board
of Directors of the Zone ("Board of Directors" or `Board"), subject to the restrictions imposed by
law, the ordinance creating the Zone, and these Bylaws. It is the intention of the City Council
that the Board of Directors shall function only in an advisory or study capacity with respect to the
Zone and shall exercise only those powers, advisory in nature, which are either granted to the
Board pursuant to the Act or delegated to the Board by the City Council.
The Board of Directors shall consist of five (5) directors appointed by the City Council of the
City, provided however, that if any other taxing unit (other than the City) waives its right to
appoint a member to the Board, the City may appoint such Board member in its stead.
The first Board of Directors shall serve for an initial term ending December 31, 2021 or until his
or her successor is appointed. Subsequent directors shall be appointed by the governing body of
the City, and shall serve for two (2) year terms beginning January 1, 2022 or until their
successors are appointed by the respective governing bodies.
Any director may be removed from office by the City Council for cause deemed by the City
Council as sufficient for their removal in the interest of the public, but only after a public hearing
before the City Council on charges publicly made, if demanded by such Board member within
ten (10) days.
In the event of a vacancy caused by the resignation, death, or removal for any reason, of a
director, the governing body of the respective taxing unit which made such Board appointment
shall be responsible for filling the vacancy.
Section 2. Meetings of Directors. The directors shall hold their meetings within a public
building in the City as the Board of Directors may from time to time determine.
Section 3. Regular and Special Meetings. Regular and Special Meetings of the Board of
Directors shall be held at such times and places as shall be designated, from time to time, by the
Board of Directors. All meetings of the Board shall be of a public nature unless pertaining to
matters of land purchase, security, personnel, or strictly legal matters. Notice of all regular and
special meetings of the Board and any committees thereof shall be posted in accordance with the
provisions of Chapter 551, Texas Government Code. There shall be at least one Regular
Meeting held each year for review and approval of the Annual Report.
Section 4. Emerencwr Meetin ,s. Emergency Meetings of the Board of Directors shall be
held whenever called by the chair, by the secretary, by a majority of the directors then in office or
upon advice of or request by the City Council. The secretary shall give notice to each director of
each Emergency Meeting. Notice of all Emergency Meetings shall state the purpose, which shall
be the only business conducted and shall be subject to the requirements of State Law.
Section 5. Quorum. A majority three (3) of the five (5) directors holding current
appointments shall constitute a quorum for the consideration of matters pertaining to the
purposes of the Zone. The act of a majority of the directors present at a meeting at which a
quorum is in attendance shall constitute the act of the Board of Directors, unless the act of a
greater number is required by law.
Section 6. Conduct of Business. At the meetings of the Board of Directors, matters
pertaining to the purposes of the Zone shall be considered in such order as from time to time the
Board of Directors may determine.
At all meetings of the Board of Directors, the chair shall preside and in the absence of the chair,
the vice chair shall exercise the power of the chair.
The secretary of the Board of Directors shall act as secretary of all meetings of the Board of
Directors, but in the absence of the secretary, the presiding officer may appoint any person to act
as secretary of the meeting. City staff shall provide notice of meetings and prepare meeting
agendas.
Within five days following each Regular, Special and Emergency meeting, a copy of the minutes
of the meeting shall be submitted to the City Secretary of the City.
Section 7. Com ensation of Directors. Directors as such shall not receive any salary or
compensation for their services, except that they shall be reimbursed for their actual reasonable
expenses incurred in the performance of their duties hereunder.
Section 8. Attendance., Board members shall make every effort to attend all Regular, Special
and Emergency meetings of the Board and/or Committees. The City Council may replace a City
appointee of the Board or request replacement of an appointee from other taxing jurisdictions for
non-attendance at three consecutive meetings.
ARTICLE III
OFFICERS
Section 1. Titles and Term of Office. The officers of the Zone shall consist of a chair, a
vice chair, a secretary, and such other officers as the Board of Directors may from time to time
elect or appoint; provided however that the City Council shall, on an annual basis, appoint the
chair whose term shall end on December 31 of each year. One person may hold more than one
office, except that the chair shall not hold the office of secretary. Terms of office for officers,
other than the chair, shall not exceed two years.
All officers, other than the chair, shall be subject to removal from office, with or without cause,
at any time by a vote of a majority of the entire Board of Directors.
A vacancy in the office of any officer, other than the chair, shall be filled by a vote of a majority
of the directors.
Section 2. Powers and Duties of the Chair. The chair shall be the chief executive officer of
the Board of Directors and, subject to the approval of the City Council, he/she shall be in general
charge of the properties and affairs of the Zone and shall preside at all meetings of the Board of
Directors.
Section 3. Vice Chair. The Vice chair shall be a member of the Board of Directors, shall
have such powers and duties as may be assigned to him by the Board of Directors and shall
exercise the powers of the chair during that officer's absence or inability to act. Any action taken
by the vice chair in the performance of the duties of the chair shall be conclusive evidence of the
absence or inability to act of the chair at the time such action was taken.
Section 4. Secretary. The secretary shall keep the minutes of all meetings of the Board of
Directors in books provided for the purpose, he/she shall have charge of such books, records,
documents and instruments as the Board of Directors may direct, all of which shall at all
reasonable times be open to inspection, and he/she shall in general perform all duties incident to
the office of secretary subject to the control of the City Council and the Board of Directors. The
function of Secretary may be performed by City Staff.
Section 5. Compensation. Officers as such shall not receive any salary or compensation for
their services, except that they shall be reimbursed for their actual reasonable expenses incurred
in the performance of their duties hereunder.
Section 6. Staff. Staff functions for the Board of Directors may be performed by the City
Manager or his designee.
ARTICLE IV
PROVISIONS REGARDING BYLAWS
Section 1. Effective Date. These Bylaws shall become effective only upon the occurrence of
the following events:
(1) The adoption of these Bylaws by the Board of Directors, and
(2) The approval of these Bylaws by the City Council.
Section 2. Amendments to B Iaws. These Bylaws may be amended by majority vote of the
Board of Directors, provided that the Board of Directors files with the City Council a written
application requesting that the City Council approve such amendment to the Bylaws, specifying
in such application, the amendment or amendments proposed to be made. If the City Council by
appropriate resolution finds and determines that it is advisable that the proposed amendment be
made, authorizes the same to be made and approves the form of the proposed amendment, the
Board of Directors shall proceed to amend the Bylaws.
After consultation with the Board of Directors, the Bylaws may also be amended at any time by
the City Council by adopting an amendment to the Bylaws by resolution of the City Council and
delivering the Bylaws to the secretary of the Board of Directors.
Section 3. Interpretation of Bylaws. These Bylaws and all the terms and provisions hereof
shall be liberally construed to effectuate the purposes set forth herein. If any word, phrase,
clause, sentence, paragraph, section or other part of these Bylaws, or the application thereof to
any person or circumstance, shall ever be held to be invalid or unconstitutional by any court of
competent jurisdiction, the remainder of these Bylaws and the application of such word, phrase,
clause, sentence, paragraph, section or other part of these Bylaws to any other person or
circumstance shall not be affected thereby.
ARTICLE V
GENERAL PROVISIONS
Section 1. Notice and Waiver of Notice. Unless otherwise required by State Law,
whenever any notice whatsoever is required to be given under the provision of these Bylaws, said
notice shall be deemed to be sufficient if given by depositing the same in a post office box in a
sealed postpaid wrapper addressed to the person entitled hereto at his post office address, as it
appears on the books of the Zone, and such notice shall be deemed to have been given on the day
of such mailing. Attendance of a director at a meeting shall constitute a waiver of notice of such
meeting, except where a director attends a meeting for the express purposes of objecting to the
transaction of any business on the grounds that the meeting is not lawfully called or convened. A
waiver of notice in writing signed by the person or persons entitled to said notice, whether before
or after the time stated therein, shall be deemed equivalent to the giving of such notice.
Section 2. Resignations. Any director or officer may resign at any time. Such resignation
shall be made in writing and shall take effect at the time specified therein, or, if no time be
specified, at the time of its receipt by the City Council. The acceptance of a resignation shall not
be necessary to make it effective, unless expressly so provided in the resignation.
Section 3. Avoroval or Dele ation of Power by the Cite Council. To the extent that these
Bylaws refer to any approval by the City, such approval of delegation shall be evidenced by a
certified copy of an ordinance, or resolution (if permissible), duly adopted by the City Council.
Approved by the TIRZ Board of Directors on the _ day of
Approved by the Paris City Council on the _ day of
ORDINANCE NO.
AN ORDINANCE OF THE CITY OF PARIS, TEXAS APPROVING THE
FINAL PROJECT PLAN AND REINVESTMENT ZONE FINANCING
PLAN FOR REINVESTMENT ZONE NUMBER ONE; PROVIDING FOR
SEVERABILITY; PROVIDING FOR PUBLICATION; PROVIDING AN
EFFECTIVE DATE; AND FINDING AND DETERMINING THE
MEETING AT WHICH THIS ORDINANCE IS ADOPTED TO BE OPEN
TO THE PUBLIC AS REQUIRED BY LAW.
WHEREAS, pursuant to the Tax Increment Financing Act, Chapter 311, Texas
Tax Code, as amended (the "Act") on November 11, 2019, the City Council of the City
of Paris, Texas approved and adopted Ordinance No. 2019-045, which, among other
things, created, established, and designated Reinvestment Zone Number One, (the
"Zone"); established a Board of Directors for the Zone, and established a tax
increment fund (the "TIRZ Fund") into which the City is required by the Act to
deposit its tax increment for approximately 2,176 acres of land lying within the
corporate limits of the City (the "Property"); and
WHEREAS, on February 11, 2020, the Board of Directors of the Zone
considered and adopted a proposed Final Project Plan and Reinvestment Zone
Financing Plan, a copy of which is attached hereto as Exhibit A and incorporated
herein by reference; and
WHEREAS, the City council finds that notice of the public hearing was
published in a newspaper of general circulation within the City in the time and
manner required by law; and
WHEREAS, at the public hearing, interested persons were allowed to speak
for or against the proposed amendment to the Final Project Plan and Reinvestment
Zone Financing Plan; and
WHEREAS, evidence was received and presented at the public hearing in
favor of the amendment to the Final Project Plan and Reinvestment Zone Financing
Plan; and
WHEREAS, the City Council desires to approve the Final Project Plan and
Reinvestment Zone Financing Plan.
NOW THEREFORE, BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF
PARIS, TEXAS:
SECTION 1. Find, ings, That the facts and recitations contained in the
preamble of this Ordinance are hereby found and declared to be true and correct
and are hereby adopted as part of this Ordinance.
SECTION 2. Approval. That the Final Project Plan and Reinvestment Zone
Financing Plan, attached hereto as Exhibit A and incorporated herein by reference,
are hereby determined to be feasible and are approved. The appropriate officials of
the City are authorized to take all steps reasonably necessary to implement the Final
Project Plan and Reinvestment Zone Financing Plan.
SECTION 3. Severability. If any provision, section, subsection, sentence,
clause or the application of same to any person or set of circumstances for any
reason is held to be unconstitutional, void or invalid or for any reason
unenforceable, the validity of the remaining portions of this ordinance or the
application thereby shall remain in effect.
SECTION 4. Publishinlman_d Effective Date. This ordinance shall be published
and become effective according to law.
AND IT IS SO ORDERED.
On motion by Councilmember , seconded by Councilmember —, the
above and foregoing ordinance was passed and approved by the following vote:
Ayes:
Nays:
Abstentions:
at its regular meeting on February 24, 2020.
Steven J. Clifford, M.D, Mayor
ATTEST:.
Janice Ellis, City Clerk
APPROVED AS TO FORM AND LEGALITY:.
Stephanie H. Harris, City Attorney
REINVESTMENT ZONE NUMBER 1
CITY OF PARIS, TEXAS
PROJECT AND FINANCING PLAN
February 2020
1. INTRODUCTION
1_1 Authority and Purpose, The City of Paris, Texas, a Texas incorporated home rule
municipality (the Com), has the authority under Chapter 311, Texas Tax Code, as
amended (the "Act") to designate a contiguous or noncontiguous geographic area
within the corporate limits or extraterritorial jurisdiction ("ETJ") of the City as a tax
increment reinvestment zone to promote development of the area if the governing
body of the City (the "City Council") determines that development would not occur
solely through private investment in the reasonable foreseeable future, that the zone
is feasible, and that creation of the zone is in the best interest of the City and the
property in the zone. The purpose of the zone is to facilitate such development by
financing the costs of public works, public improvements, programs, and other
projects benefiting the zone, plus other costs incidental to those expenditures, all of
which costs are authorized by the Act.
1_2 Eli ibilit Rg uirements. An area is eligible under the Act to be designated as a tax
increment reinvestment zone if the area arrests or impairs the sound growth of the
City because the Zone is predominately open and undeveloped and has the need for
public infrastructure to attract new commercial and residential activity to the Zone
for the purpose of providing long term economic benefits for all taxing units in the
Zone. The City cannot, however, designate a zone if more than 30% of the property in
the proposed zone, excluding property that is publicly owned, is "used for residential
purposes" (defined by the Act as follows: ... property is used for residential purposes if
it is occupied by a house having fewer than five living units...") or if the total
appraised value of taxable real property in the proposed zone and in existing
reinvestment zones exceeds 50% of the total appraised value of taxable real property
in the City and in industrial districts created by the City.
1_3 The Proposed Zone. The City is considering the creation of a tax increment
reinvestment zone to be known as "Reinvestment Zone Number One, City of Paris,
Texas" (the "Zone") that will include approximately 2176 acres (including public right-
of-way) which includes large generally open areas in the north, south, northwest and
southwest areas of the City plus a portion of the downtown area, all of which is
located within the City's corporate limits. The property meets the eligibility
requirements of the Act. The property substantially impairs or arrests the sound
growth of this area of the City because of its challenges to development with the lack
of public amenities and enhancements. There is a need for economic incentives to
attract development and redevelopment in the Zone for the purpose of providing
long-term economic benefits including, but not limited to, increased real property tax
base for all taxing units in the Zone, increased sales and use tax, and increased job
opportunities for residents of the City and County. If the Zone is created and the
public works, public improvements, programs and other projects are financed as
contemplated by this Preliminary Plan, the City envisions that the property will be
developed to take full advantage of the opportunity to bring to the City a substantially
increased tax base and job opportunities for its citizens.
1.4 Preliminary Plan• Hearing. Before the City may adopt an ordinance designating the
Zone, the City Council must prepare a preliminary reinvestment zone financing plan in
accordance with the Act and hold a public hearing on the creation of the proposed
zone and its benefits to the City and to the Property, at which public hearing
interested persons may speak for or against the creation of the proposed Zone, the
boundaries of the proposed zone, or the concept of tax increment financing.
1_5 Creation of the Zone. Upon the closing of the above -referenced public hearing, the
City Council may adopt an ordinance in accordance with the Act creating the Zone if
the City Council finds that development or redevelopment of the Property would not
occur solely through private investment in the reasonable foreseeable future, that
the Zone is feasible, and that creation of the Zone is in the best interest of the City.
Among other provisions required by the Act, the ordinance creating the Zone will
provide for the appointment of a Board of Directors for the Zone consisting of five (5)
members from the City (the "Board").
1_6 Board Recommendations. After creation of the Zone, the Board will review the
Preliminary Plan and approve and recommend to the City Council a final
Reinvestment Zone Number One, City of Paris, Texas, Project and Financing Plan (the
"Final Plan'), pursuant to which the City will contribute 50% of its ad valorem tax
increment attributable to increased taxable value of existing and new development in
the Zone into a tax increment fund created by the City and segregated from all other
funds of the City (the "TIRZ Fund") to pay the costs of public works, public
improvements, programs, and other projects benefiting the Zone. The Board will also
make recommendations to the City Council concerning any development and
reimbursement agreement ("TIRZ Reimbursement Agreement").
1_7 Council Action. The City Council, taking into consideration the recommendations of
the Board, will consider approval of the Final Plan and any TIRZ Reimbursement
Agreement. If a TIRZ Reimbursement Agreement is approved, the City Council will
authorize and direct its execution.
2_0 DESCRIPTIONS AND MAPS.
2_1 Existing Uses and Conditions. All of the Property is currently located in the City's
corporate limits. Uses allowed within the Zone include Residential, and Commercial. A
boundary map of the Zone is shown as Exhibit A.
2.2 Pr000sed Uses. The proposed uses will be established by existing zoning in most
cases, but there may be areas where revised zoning will be requested. If so, any revisions
will be made through the standard process and procedures of the City.
2.3 Boundary Descrr tion. A boundary description of the TIRZ area is provided on Exhibit
B.
3. PROPOSED CHANGES TO ORDINANCES PLANS CODES RULES AND REGULATIONS. Any
changes in ordinances, plans, codes, rules and regulations which are required or
requested will be made through the standard process and procedures of the City.
4. RELOCATION OF DISPLACED PERSONS. Although not anticipated, in the process of
development and redevelopment in the Zone, any relocation will be made through the
standard process and procedures of the City.
5. ESTIMATED NON -PROJECT COSTS. Non -project costs are private funds that will be spent
to develop and redevelop in the Zone but will not be financed by the Zone. Based on
the Feasibility Analysis, a copy of which is attached as Exhibit Cthe total non -project
costs are estimated to be approximately $390.7 million.
6. PROPOSED PUBLIC IMPROVEMENTS.
6_1 List of Public Imrovements. The list of public works and public improvements that
are proposed to be finances pursuant to this Preliminary Plan are as follows:
These projects and their associated costs are shown in Exhibit D.
6_2 Locations of Public Im provements. The locations of the proposed public works and
public improvements all lie within the Zone.
7. PROJECT COSTS. The total maximum "Project Costs" are $25.5 million. This cost is
more than the projected TIRZ income, but projects will only be completed to the limit of
the TIRZ income.
8. ESTIMATED TIME WHEN COSTS ARE TO BE INCURRED. Some Administrative Costs have
been incurred and additional costs will most likely be incurred annually. It is assumed
that the remainder of the Project Costs will be incurred during the life of the Zone.
9. ECONOMIC FEASIBILITY. For purposes of the Preliminary Plan, economic feasibility has
been evaluated, a copy of which is attached as Exhibit C. This evaluation focuses only
on "direct" financial benefits (i.e., tax revenues only from new development in the Zone,
no value increases from existing development nor value increases from new
development after its completion) and does not take into consideration the "multiplier
effect" that will result from new development that occurs outside the Zone. The new
development assumptions are based on input by City staff. This study projected
potential development at buildout within the Zone to be $390.7 million.
During the term of the Zone, the increase in value of new development that occurs in
the Zone (which would not have occurred but for the Zone) will generate approximately
$29.4 million for the City ($14.7 million to the TIRZ fund and $14.7 million to the City) in
new ad valorem tax revenue. Based on the foregoing, the feasibility of the Zone has
been demonstrated. In addition to the above income during the term of the Zone, the
City will receive all Business Personal Property and Inventory tax income and sales tax
income from new development in the Zone.
10. ESTIMATED BONDED INDEBTEDNESS. If initial Project Costs are not advanced by a
Developer or property owner, the City of Paris may consider direct payment of Project
Costs or issuing bonds and utilize tax increment funds for either direct repayment or to
cover debt service as those funds are available.
11. TOTAL TAXABLE VALUE. The current total appraised value of taxable real property in
the Zone as of January 1, 2019 is approximately $52.8 million. It is estimated that upon
expiration of the term of the Zone, the total appraised value of taxable real property in
the Zone will be approximately $443.5 million.
12. ESTIMATED CAPTURED APPRAISED VALUE TAXABLE BY THE CITY. The captured taxable
value of the Zone—taxable by the City for a year is the total taxable value of the Zone
for that year less the tax increment base of the Zone. The tax increment base of the
Zone is the total taxable value of the Zone for the year in which the Zone was
designated.
13. METHOD OF FINANCING. Project Costs will be financed through loans advanced by
Developers, property owners, the City of Paris or by bonds which may be issued and
utilize tax increment funds for either direct reimbursement or to support bond debt
service as those funds are available. The revenue sources will be the real property taxes
captured by the TIRZ, which will account for 100% of revenues used to fund Project and
Administrative Costs or bond debt service. For the TIRZ Fund, the City of Paris will
contribute 50% of its tax rate on incremental taxable value as shown in Exhibit C.
14. DURATION OF THE ZONE. The term of the Zone shall commence January 1, 2019 and
continue until the earlier to occur of: (1) December 31, 2048 or (2) the date on which all
Project Costs, bonds, and other obligations have been paid in full.
15. LIST OF EXHIBITS. Unless otherwise stated, all references to "Exhibits" contained in this
Preliminary Plan shall mean and refer to the following exhibits, all of which are attached
to and made a part of this Preliminary Plan for all purposes.
Exhibit A
Zone Boundary Map
Exhibit B
Boundary Description
Exhibit C
Feasibility Analysis
Exhibit D
Proposed Public Improvements
PARIS TIRZ
EXHIBIT A
ZONE BOUNDARY MAP
PARIS TIRZ
EXHIBIT B
BOUNDARY DESCRIPTION
Boundary Description for
2019 Tax Increment Reinvestment Zone (TIRZ)
2176 Acres in
Lamar County, Texas
October 2019
Being approximately 2176 acres of land situated within the corporate limits of the City of Paris,
Texas, and consisting of five Sub Zones, being further described herein, each zone connected by public
right of way or otherwise adjoining property as described herein;
Sub Zone 1: NW Industrial Area
Being approximately 420 Acres of land situated within the corporate limits of the City of Paris,
Texas and being in the J. Ames Survey, A - 28, the W. Driggers Survey, A — 281, the J. Herrington Survey,
A — 436 and the F. Morrison Survey, A — 592 and being approximately 1.30 miles, N 64 degrees W from
the Downtown Plaza and being bounded on the East by the West right of way of FM 79 / 19th Street NW,
on the North and West by the Southwest right of way the NW Loop 286, and on the South by the South
right of way line of Campbell Street;
Beginning at a point approximately 1.30 miles, N 64 degrees W from the Downtown Plaza at the
of intersection of the South right of way line of Campbell Street and the West right of way line of FM 79
/ 19th Street NW, for the Point of Beginning for Sub Zone 1: NW Industrial Area;
Thence Northerly along the West right of way line of FM 79 / 19th St NW, approximately 4,375
feet, to the intersection with the South right of way line of NW Loop 286 / US 82, to a point for a corner;
Thence Southwesterly along the Southwest right of way line of NW Loop 286 / US 82,
approximately 1.46 miles, to the intersection with the South right of way line of Campbell Street, to a
point for a corner;
Thence Easterly, following along the South right of way line of Campbell Street, approximately
1,150 feet, to a curve to the right, continuing South along said curve, following said South right of way
line of Campbell Street, 255 feet, to a curve to the left, and continuing East along said South right of way
line of Campbell Street, approximately 5,400 feet, to the intersection with the West right of way line of
FM 79 / 19th St NW, to the Point of Beginning for Sub Zone 1, containing 420 acres more or less. Save &
Except the following parcel as recorded in Lamar County Deed Records (LCDR), Lamar County, Texas:
Save & Except all of: 8.247 Acres being, Lot 1, Block A, Potters Industries LLC Addition 355, as
recorded in Lamar County Deed Records, CAB. 437 D, dated May 20, 2013, known as Potter Industries,
LLC. and as Lamar County Appraisal District (LCAD) Parcel 18922.
ROW Tract 1: ROW Connection FM 79./ 191h Street NW
Being a strip of right of way, approximately 80 feet in width, for FM 79 / 19th Street NW,
beginning at the intersection of FM 79 / 19th Street NW and Campbell Street, and ending at the
intersection of FM 79 / 19th Street NW and West Sherman Street, for a ROW connection from Sub Zone
1 to Sub Zone 2: Downtown Central Area.
Sub Zone 2: Downtown Central Area
Being approximately 328 Acres of land situated within the corporate limits of the City of Paris,
Texas and being in the A. Jarman Survey, A-479 and the L. Rattan Survey, A-778, and being
approximately 1.18 miles, S 77 degrees W of the Downtown Plaza and being bounded by public right of
way described as follows:
Beginning at a point approximately 1.18 miles, S 77 degrees W of the Downtown Plaza, said
point being the intersection of the South right of way line of West Sherman Street and the West right of
way line of FM 137 / 19th Street SW;
Thence Southerly along the West right of way line of FM 137 / 19th Street SW, approximately
1,197 feet, to the intersection with the North right of way line of West Washington Street, to a point for
a corner;
Thence Easterly along the North right of way line of West Washington Street, approximately
4,210 feet, to a curve to the left, continue, following along the West right of way for 7th Street NW for
approximately 200 feet , to the projected intersection of the North right of way of West Washington
Street & 7th Street NW, continuing Easterly along said North right of way of West Washington Street,
approximately 850 feet, to the intersection with the West right of way line of 4th Street SW, to a point
for a corner;
Thence Northerly along the West right of way of 4th Street SW, approximately 1,050 feet, to the
intersection with the North right of way of West Sherman Street, to a point for a corner;
Thence Easterly along the North right of way line of West Sherman Street, approximately 1,960
feet, to the intersection with the West right of way line of 3`d Street SE, to a point for a corner;
Thence Northerly along the West right of way line of 3rd Street SE, approximately 545 feet, to
the intersection with the North right of way line of East Austin Street, to a point for a corner;
Thence Easterly along the North right of way line of East Austin Street, approximately 988 feet,
to the intersection with the West right of way line of 6th Street SE, to a point for a corner;
Thence Northerly along the West right of way line of 6t' Street SE, approximately 620 feet, to
the intersection with the South right of way of Clarksville Street / US 271, to a point for a corner;
Hill 11 INNIFIlifflilli I l! !I ! I
Thence Westerly along the South right of way line of East Santa Fe Street, crossing N Main
th-:-Sourth-&-4'W
Thence Southwesterly along the South right of way line of Graham Street, approximately 575
feet, to the intersection with the East right of way line of 3 rd Street NW, to a point for a corner;
11,111111111c== 11111111m 11 IIIIIIIIIIIIIIII-Irls''Iml ill, 111���
Thence Southerly along the East right of way line of 4 1h Street NW, approximately 290 feet, to
the intersection with the South right of way line of Bonham Street / US 82 W, to a point for a corner;
Thence Westerly along the South right of way line of Bonham Street / US 82 W, approximately
2,255 feet, to the intersection with the East right of way line of the abandoned Kiamichi Railroad, said
point also being the NWC of the 2.289 Acre, Tract X13, A. Jarman Survey, Abstract — 479, also known as
1125 Bonham Street, also known as LCAD Parcel 120212, to a point for a corner;
Thence Southerly along the said West boundary line of Tract X13, A-479, same being the East
right of way of the abandoned Kiamichi railroad, approximately 515 feet, to the SWC of said Tract X13,
same being in the North boundary line of a certain 2.77 acre tract belonging to the Greater Paris
Development Foundation Inc., described as Tract X12, A-479, A. Jarman Survey, also known as LCAD
Parcel 120210, to a point for a corner;
THENCE Westerly along said North line of Tract X12, A-479, approximately 45 feet, to the NWC
of said Tract X12, to a point for a corner;
Thence Southerly along the West boundary line of said Tract X12, A-479, approximately 634
feet, to the SWC of said Tract X12, and continuing on a projected line to the intersection with the South
right of way line of West Sherman Street, to a point for a corner;
Thence Westerly along the South right of way line of West Sherman Street, approximately 2,815
feet, to the intersection with the West right of way line of 19th Street SW / FM 137, to the Point of
Beginning and containing 328 acres more or less, Save and Except the following described tracts:
Save & Except the following Tracts:
Tract 1:
The Paris Retirement Village — C.B. 308, Lot 1, Block A, PARIS RETIREMENT VILLAGE, TRACT 1,
ACRES 9.292, being located at the northwest corner of 13th Street SW and West Washington Street, as
Plat recorded in LCDR CAB 382-B & 382-C.
Tract 2:
Approximately 22.7 Acres bounded on the north by West Sherman Street, the East by 7th Street
SW, the South by West Washington Street, and the West by City of Paris Block 13, and containing all of:
City of Paris Block 133, Lots 1 through 19, and City of Paris Block 152, Lots 1 through 7, and City of Paris
Block 153, also known as the George Wright Homes, and City of Paris Block 308, Lot PT 2.
ROW Tract 2: ROW Connection BUS 2711 North Main Street
Being a strip of right of way, approximately 60 feet in width, for BUS 271 N / North Main Street
beginning at the intersection with Santa Fe Street and BUS 271 N / North Main Street and ending at the
intersection with Center Street, for a ROW connection of Sub Zone 2 : Downtown Central Area to Sub
Zone 3: North Loop 286 Area.
Sub Zone 3: North Loots 286 Area
Being approximately 250 Acres of land situated within the corporate limits of the City of Paris,
Texas and being entirely within the R. Russell Survey, A-786, and being approximately 1.3 miles North of
the Downtown Plaza, being bounded on the West by the Kiamichi Railroad right_af way, and on the
North by the South right of way of NE & NW Loop 286, and on the South by the North right of way line
of Clement Road.;
Beginning at a point of of the West right of way line of BUS 271 N / N Main Street
alongand the North right of way line of Clement Road;
Thence Easterly 1, way line 11, Clement Road,approximately i+1
intersectionthe of the North right of way line of Clement Road and the Southwest right of way of N1
Northwesterly,Thence along the Southwesti at approximately
5,600 feet, passing the centerline of Bd continuing Westerly along the S1u
right of way of NW Loop 286, for approximately , e, 1 the NWC 4, CITY OF PARIS,BLOCK
LOT PT O......... i.. Pit & ALL A786 RUSSELL SUR, 2300 N MAIN T ,., LOOP 286, ACRES
RES
17.9023, also known as LCADparcel 00 rt.
Thence Southerly, approximately 925 feet, along4. said CITY OF ++
BLOCK 251, LOT PT OF 27-A, PT OF 27-B & ALL OF 29, A786 RUSSELL SUR, 2300 N MAIN & 185 NW LOOP
286, ACRES 17.9023, to a point for an inside corner;
Thence Westerly, approximately 80 feet, along:" ! PARIS,
BLOCK 251, LOT 26 & 30, ACRES 16.0, also known as LCAD parcel 5 483, to the NWC of same, to a point
Thence Southerly, approximately 1,160 feet, along the West boundary of CITY OF PARIS, BLOCK
251, LOT 26 � ACRES 16.0,point
Thence Easterly, along the South boundary of CITY OF PARIS, BLOCK 251, LOT 26 & 30, ACRES
same,16.0, at approximately 628 feet, passing the SEC of same, said point also being the SWC of CITY OF
PARIS, BLOCK 251, LOT 17, A786 RUSSELL SURVEY, 35 DRIVE-IN AVE, ACRES 1.0, also known as LCAD
parcel 53616, continuing along the South Boundary line of
of approximately 858 feet, to the SEC of said Lot 17, to a point for a corner;
Thence Northerly, approximately 175 feet, along the East boundary line of said Lot 17, to thl-
of same,o: way 1- Drive-in Avenue,! s point for an inside
alongThence Easterly, approximately 655 feet, the SouthAvenue, to
rightthe intersection with the West 1, i, point for a corner;
approximatelyThence Southerly, g" BU
Thence Easterly, approximately 60 feet, crossing the right of way of BUS 271 N / North Main
Street, to the intersection of the East right of way line of BUS 271 N / North Main Street and the North
right of way line of Clement Road and Point of Beginning for Sub Zone 3: North Loop 286 Area,
containing 257 Acres more or less, SAVE & EXCEPT the following described tracts:
SAVE & EXCEPT the following Tracts:
Tract 3:
The City of Paris Public Pool being further described by Lamar County Appraisal District Parcel
59521 having a legal description CITY OF PARIS, BLOCK 276, LOT 6, LOOP 286 NE 6TH CLEMENT RD,
being located near the intersection of Loop 286 at Clement Road; and
Tract 4:
Lamar County Appraisal District Parcel 55681 having a legal description CITY OF PARIS, BLOCK
276, LOT 4, A786 R RUSSELL SURVEY, 1680 NE LOOP 286, ACRES 1.71, being located at the intersection
of Loop 286 at Clement Road.
ROW Tract 3: ROW Connection Old Bonham Road
Being a strip of right of way, approximately 50 feet in width, known as Old Bonham Road,
beginning at the intersection with FM 137 / 19th Street NW and ending at the intersection of the South
right of way line of Old Bonham Road and the Northeast corner of LCAD 18667, described as CITY OF
PARIS, BLOCK 309, LOT 16, S SIDE OLD BONHAM RD, ACRES 21.37. for a ROW connection of Sub Zone 2:
Downtown Central Area to Sub Zone 4: SW Industrial Area.
Sub Zone 4: SW Industrial Area
Being approximately 338 Acres of land situated within the corporate limits of the City of Paris,
Texas and being in the I. Cruise Survey, A-162 and the A. Jarman Survey, A-479 and being approximately
2.45 miles S 76 degrees W from the Downtown Plaza and being bounded on the West by the East right
of way of SW Loop 286, and on the South, East & North by private property boundaries as described
herein:
Beginning at a point, approximately 2.45 miles S 76 degrees W from the Downtown Plaza,
being the intersection of the South right of way line of Old Bonham Road and the East right of way of SW
Loop 286, and being the NWC of CITY OF PARIS, BLOCK 309, LOT PT OF 22, OLD BONHAM RD & LOOP
286, ACRES 11.245, known as TXDOT Yard, also known as LCAD parcel 102819 & 18673, for the Point of
Beginning for Sub Zone 4: SW Industrial Area;
Thence in a Southeasterly direction, at approximately 1,995 feet, passing the most Southerly
corner of TXDOT Yard, CITY OF PARIS, BLOCK 309, LOT PT OF 22, OLD BONHAM RD & LOOP 286, ACRES
14.307, also known as LCAD parcels 102819 & 18673, and continuing along said SW Loop 286 right of
way, approximately 2,195 feet to the most Southerly SWC of CITY OF PARIS, BLOCK 309, LOT 20,
BETWEEN LOOP & OLD BONHAM RD, ACRES 85.478, also known as LCAD parcel,18671, also being in the
North right of way line of the Union Pacific Railroad, for a distance of approximately 4,190 feet, to a
point for a corner;
Thence Easterly, approximately 1,010 feet, along the South boundary line of said CITY OF PARIS,
BLOCK 309, LOT 20, to the SEC of said CB 309, Lot 20, to a point for a corner;
Thence Northerly, approximately 2,245 feet, along the East boundary line of said CB 309, Lot 20,
to the SWC of CITY OF PARIS, BLOCK 309, LOT 16, S SIDE OLD BONHAM RD, ACRES 21.37, also known as
LCAD parcel 18667, to a point for an inside corner;
Thence Easterly, approximately 1,450 feet, along the South boundary line of said CB 309, Lot 16,
to the SEC of same, to a point for a corner;
Thence Northerly, approximately 1,225 feet, along the East boundary line of said CB 309, Lot 16,
to the NEC of said CB 309, Lot 16, same being in the South right of way of Old Bonham Road and a point
of connection to ROW Tract 3 herein described, continuing across the 50 foot right of way of Old
Bonham Road to a point in the North right of way of said Old Bonham Road and being in the South
boundary line of CITY OF PARIS, BLOCK 213, LOT PT OF 9, S SIDE WEST SHERMAN & E SIDE 25TH SW,
ACRES 8.04, also known as LCAD parcel 107706, to a point for a corner;
Thence Westerly, approximately 615 feet, along the South boundary line of said CB 213, Lot Part
of 9, also being along said North right of way line of Old Bonham Road, to the intersection with the West
right of way line of 25th Street SW, to a point for a corner;
Thence Northerly, approximately 650 feet, along the West right of way of 25th Street SW to the
intersection with the South right of way of Brame Street, also being the NEC of PORTER'S 2ND
ADDITION, BLOCK D, LOT 5, 2515 W BRAME, also known as LCAD parcel 19325, to a point for a corner;
Thence Westerly, approximately 855 feet, along the South right of way of Brame Street, to the
NWC of PORTER'S 2ND ADDITION, BLOCK D, LOT 12-A, 13 TRU 17, 2675 W BRAME, also known as LCAD
parcel 19329, and being in the most Westerly East boundary line of CITY OF PARIS, BLOCK 328, LOT 6,
A479 JAMAR SURVEY 2704 OLD BONHAM RD, ACRES 57, also known as LCAD parcel 18869, to a point for
a corner;
Thence Northerly, approximately 1,020 feet, along said boundary line of CB 328, Lot 6, to the
most Northerly NEC of same, to a point for a corner;
Thence Westerly, approximately 820 feet, following the North boundary line of said CB 328, Lot
6, to the most Northerly NWC of same, also being in the East right of way of 29th Street SW and being
the SWC of SPERRY'S IST ADDITION, BLOCK 9, LOT 4-E, 275 29TH SW, also known as LCAD parcel 19663,
to a point for a corner;
Thence Southerly, approximately 540 feet, along the East right of way of 29th Street SW, to the
intersection with the South right of way of West Sherman Street, to a point for a corner;
Thence Westerly, approximately 1,775 feet, along the South right of way of West Sherman
Street, to the intersection with the West right of way of 34th Street SW, also being the NWC of
STALLINGS ADDITION, BLOCK A, LOT 1, ACRES 1.406, also known as LCAD parcel 125606, to a point for a
corner;
Thence Southerly, approximately 245 feet, along the West boundary of said Stallings Addition,
Block A, Lot 1, passing the SWC of same, and continuing Southerly, approximately 13 feet, to the NEC of
CITY OF PARIS, BLOCK 328, LOT 3, E SIDE LOOP 286 SW, ACRES 37.49, also known as LCAD parcel 18866,
a distance of approximately 258 feet, to a point for a corner;
Thence Westerly, approximately 1,340 feet, along the North boundary line of said CB 328, Lot 3,
to the NWC of same, also being the intersection with the East right of way of SW Loop 286, to a point for
a corner;
Thence Southerly, approximately 1,490 feet, following the East right of way line of SW Loop 286
to the intersection with the South right of way line of Old Bonham Road and the Point of Beginning for
Sub Zone 4: SW Industrial Area and containing 378 acres more or less, Save & Except the following
described tract:
Save & Except the following Tract:
Tract 5:
The Texas Department of Transportation Paris Area Office and Grounds located on SW Loop 286
on the south side of Old Bonham Road and being further described as two parcels:
Lamar County Appraisal District Parcel 102819 having a legal description CITY OF PARIS, BLOCK
309, LOT PT OF 22, OLD BONHAM RD & LOOP 286, ACRES 11.245; and
Lamar County Appraisal District Parcel 18673 having a legal description CITY OF PARIS, BLOCK
309, LOT PT OF 22, OLD BONHAM RD & LOOP 286, ACRES 14.307.
Sub Zone 5: South Industrial Area
Being approximately 825 Acres of land situated within the corporate limits of the City of Paris,
Texas and being in the A. Jarman Survey, A-479, the L. Rattan Survey, A-778, the J. Bourland Survey, A-
69, and the L. Ewer Survey, A-313, and being approximately 0.55 miles, S 32 degrees W, from the
Downtown Plaza and being bounded on the North by West Washington Street, being the common
boundary with Sub Zone 1, and on the West by the Union Pacific Railroad right of way, and on the South
by SW Loop 286 and on the East by SH 19/24 / South Church Street, and being more particularly
described as follows:
Beginning at the point of intersection of the North right of way line of West Washington Street
and the West right of way line of 6th Street SW;
Thence Westerly, approximately 340 feet, along the North right of way of West Washington
Street to the intersection with the West right of way of 7th Street SW, also being in the East line of Sub
Zone 2: Downtown Central Area, as described herein, to a point for a corner;
Thence Southerly, approximately 177 feet, following the West right of way of 7th Street SW, to
the intersection with the continuing North right of way of West Washington Street and South boundary
of said Sub Zone 2, described herein, to a point for a corner;
Thence Westerly, approximately 1,420 feet, following the North right of way line of West
Washington Street and also the South boundary of Sub Zone 2, to the intersection with the West right of
way line of Union Pacific railroad right of way, and being in the South boundary line of CITY OF PARIS,
BLOCK 132, LOT 4, 1110 W WASHINGTON ST, also known as LCAD parcel 16165, same being 50 feet
from and perpendicular to the NEC of CITY OF PARIS, BLOCK 154-A, LOT 12, also known as LCAD parcel
16492, also being a point for the most Northerly NWC of Sub Zone 5, herein described, to a point for a
corner;
Thence Southerly, approximately 50 feet, crossing the right of way of West Washington Street,
to the NWC of said CB 154-A, Lot 12, and continuing along the East boundary line of said CB 154-A, Lot
12, same being the West right of way line of the Union Pacific railroad, approximately 1,522 feet,
passing the SEC of said Lot 12, and continuing along private property lines and the West right of way line
of the Union Pacific railroad, approximately 1.50 miles, to the intersection with the Northeast right of
way of SW Loop 286, same being the most Southerly SWC of CITY OF PARIS, BLOCK 334, LOT PT 4-A,
AB313 EWER SURVEY, SW LOOP 286, ACRES 37.95, also known as LCAD parcel 71637, to a point for a
corner;
Thence Southeasterly, approximately 7,243 feet, following the Northeast right of way of SW
Loop 286, and continuing, approximately 407 feet, along the Northwest right of way of SE Loop 286, to
the intersection with the East right of way of 3rd Street SE, a distance of 8,650 feet, to a point for a
corner;
Thence Northerly, approximately 2,640 feet, following the East right of way of 31d Street SE, to
the beginning of a curve to the left, and departing said curve in a projected line, approximately 750 feet,
to the intersection with the West right of way line of South Church Street, and continuing,
approximately 1,710 feet, along the West right of way of said South Church Street to the intersection
with the North right of way line of Neagle Street; a distance of approximately 5,100 feet, to a point for a
corner;
Thence Westerly, approximately 1,710 feet, along the North right of way of Neagle Street to the
intersection with the West right of way line of 4th Street SE, to a point for a corner;
Thence Northerly, approximately 2,000 feet, to the intersection with the South right of way line
of Frisco Street, to a point for a corner;
Thence Easterly, approximately 520 feet, to the intersection with the West right of way line of
6th Street SW, to a point for a corner;
Thence Northerly, approximately 1,228 feet, to the intersection with the North right of way of
West Washington Street and the Point of Beginning for Sub Zone 5: South Industrial Area and
containing 847 acres more or less; Save & Except the following described tracts:
Save & Except the following Tracts:
Tract 6:
LCAD Parcel: 103373, SOUTHWEST INDUSTRIAL PARK, BLOCK A, LOT 5,1810 SW LOOP 286 IMP
TO 116481, ACRES 17.966
Tract 7:
LCAD Parcel: 72003, A69 J BOURLAND SURVEY, TRACT 21, ACRES 37.693, SW LOOP 286
PARIS TIRZ
EXHIBIT C
ECONOMIC
FEASIBILITY ANALYSIS
CITY OF PARIS
TIRZ No. 1
DEVELOPMENT SCHEDULE
NW INDUSTRIAL PARK
American SpiralWeld Pipe Company
• Site: 145 acres
• Development value: $72 million
• Estimated completion date: 2021
• Taxable value (including tax abatement):
0 2022 -$0
0 2023-$0
0 2024 - $21.6 million
0 2025 - $21.6 million
0 2026 - $36.0 million
0 2027 - $54.0 million
0 2028 - $54.0 million
0 2029 and beyond - $72.0 million
CITY OF PARIS
TIRZ No. 1
DEVELOPMENT SCHEDULE
NW INDUSTRIAL PARK
Remainder of developable property:.
• Site: 127 acres industrial
• Site coverage: 10%
• Building area: 553 KSF
• Building value / SF: $100
• Building value: $55 million
• Buildout: 5 projects of $11 million every 5 years beginning in 2025
• Site: 50 acres residential
• Site coverage: 4 units / acre
• Number of units: 200
• Unit value: $160K
• Development value: $32 million
• Buildout: 4 projects of 50 units @ $8.0 million every 3 years beginning in 2030
• Site: 10 acres commercial
• Site coverage: 10%
• Building area: 43.6 KSF
• Building value / SF: $100
• Building value: $4 million
• Buildout: $4 million in 2035
CITY OF PARIS
TIRZ No. 1
DEVELOPMENT SCHEDULE
NORTH LOOP 286
• Site: 150 acres commercial
• Site coverage: 10%
• Building area: 653 KSF
• Building value / SF: $100
• Building value: $65 million
• Buildout: 5 projects of $13 million every 5 years beginning in 2022
CITY OF PARIS
TIRZ No. 1
DEVELOPMENT SCHEDULE
HISTORIC DOWNTOWN
• Site: 32 acres (infill lots) residential
• Site coverage: 4 units / acre
• Number of units: 128
• Unit value: $175 K
• Development value: 8 projects of 16 units @ $2.8 million every 5 years beginning in
2025
• Site: 32 acres (city lot plus other) multi -family
• Site coverage: 8 units / acre
• Number of units: 256
• Unit value: $100 K
• Development value: $25.6 million
• Buildout: 4 projects of 64 units @ $6.4 million every 4 years beginning in 2030
• Site: Redevelopment of vacant and dilapidated building stock
• Buildout: $4 million every 5 years beginning in 2025
CITY OF PARIS
TIRZ No. 1
DEVELOPMENT SCHEDULE
WEST INDUSTRIAL PARK
• Site: 150 acres industrial
• Site coverage: 10%
• Building area: 653 KSF
• Building value / SF: $100
• Building value: $66 million
• Buildout: 6 projects of $11 million every 5 years beginning in 2035
• Site: 10 acres retail
• Site coverage: 10%
• Building area: 43.6 KSF
• Building value/ SF: $100
• Building value: $4 million
• Buildout: $4 million in 2040
• Site: 135 acres residential
• Site coverage: 4 units / acre
• Number of units: 540
• Unit value: $175 K
• Development value: $94.5 million
• Buildout: 9 projects of 60 units @ $10.5 million beginning in 2035
CITY OF PARIS
TIRZ No. I
DEVELOPMENT SCHEDULE
SOUTHWEST INDUSTRIAL PARK
• Site: 342 acres industrial
• Site coverage: 10%
• Building area: 1,490 KSF
• Building value / SF: $100
• Building value: $149 million
• Buildout: 10 projects of $14.9 million ever 5 years beginning in 2040
• Site: 11 acres commercial
• Site coverage: 10%
• Building area: 48 KSF
• Building value / SF: $100
• Building value: $4.8 million
• Buildout: 1 project of $4.8 million in 2035
CITY OF PARIS
TIRZ No. 1
DEVELOPMENTSCHEDULE
WAS DU IMAJARK 019
2
XnW
..... NIS
1 e," _.., _. .......
.. _ ...
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Ae
86)
i
r
cl,ry OF PARIS
TIRZ No. 1.
*Based on 50% of City of Paris 2019 tax rate of $0.51608 / $100 = $0.25804 / $100.
CIT bi
:1,1110
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...
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21
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51&7
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,443
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4,.5110.5
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5,140A
..._..
20.30
......
81.1
,.
253.91
....._...._
647.4
5,,1111"..4
X34'6
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_
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.
_ ..
2141
:..
n �."1..1
3
'�18.2
7.2 17 1.'1 '
11.042
1.9.4
336.5
111.81
8,092.3
11113
-
3311.5
868.3 :
8,960,6
20
-
.336.5
86133
9,324.9
2645
541
390.1
868.3
110,697,2
.
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-
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11,008.2
11,705A,
2047
-
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N., 8.
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390.7
U08..2
13 121.8
204
TOTAL
390.7
390 V
14,730.0
14,730.0
*Based on 50% of City of Paris 2019 tax rate of $0.51608 / $100 = $0.25804 / $100.
PARIS TIRZ
*:1:1.11df7
PROJECT PLAN
Exhibit D
Project Plan for Public Improvements
Proposed Improvements and Uses
The Paris Downtown Plan as well as the Downtown Visioning Plan calls for the preservation of the
Historic Core with enhancements near the Plaza and the Farmers Market that include an expanded park
space, widened sidewalks for outdoor dining, pedestrian elements such as curb ramps, crosswalks,
benches and trash receptacles, traffic calming with reduced lane widths and enhanced pavement
features, period lighting, and landscaping for improved aesthetics. All this is intended to redevelop the
downtown as a walkable, urban destination that provides for an urban lifestyle of live, work, play, while
preserving the historic structures and surrounding neighborhoods. As shown in Figure 1, the downtown
visioning plan provides an illustrative delineation of the redevelopment character and supporting
infrastructure proposed for the project.
Figure 1: Paris Downtown Visioning Plan —Toole Design Group 2018
In addition, key catalytic projects are envisioned for the reuse of historic buildings or sites, such as the
Grand Theatre, the Scott Building, the Gibralter Hotel, the First National Bank, and the Belford buildings.
In order to accommodate such redevelopments, improvements in street infrastructure, public parking,
and pedestrian features are planned.
The following types of projects are proposed:
I. Catalyst Projects - Significant Downtown projects with individual sites, buildings or groups of
buildings for which total project investment from all sources will exceed $2.0 million per project.
Catalyst projects anticipated during the life of the TIRZ are listed below.
■ Plaza Expansion (curb and gutter, sidewalk, landscaping and on -street parking modifications)
■ Parking Facilities (locations will vary and will be based on availability of parking
improvements to public or private lots with city partnerships)
■ Development of a Downtown Police Station of Substation
■ Development of new buildings (or redevelopment of existing buildings) as mixed-use
residential/civic projects or other projects with direct community benefit
■ Development of major employment center supported by residential, retail and
entertainment uses and serving as a signature development within the community
■ Traffic modifications providing improved vehicle or pedestrian safety, reducing speeds,
delineating lanes or on -street parking, conversion to two-way traffic, or other traffic or
pedestrian related improvements outlined in the Downtown Plan or Downtown Visioning
Plan
■ Transit improvements providing for accommodation of multi -modal transportation including
but stops, shelters, and signage
■ Redevelopment or expansion of the Farmers Market as outlined in the Downtown Visioning
Plan, including associated parking, streetscape and pedestrian elements along 15t Street SW
and the library property
II. Vacant/ Underutilized Sites and Buildings —Relatively smaller projects (under $2.0 million) for the
incremental redevelopment of vacant/underutilized Downtown sites or buildings. The
Vacant/Underutilized Sites and Buildings Improvement Area is designated as Sub Zone 2: Downtown
Central Area in Exhibit A.
The following categories of TIRZ-eligible expenditures shall be applicable to both Catalyst Projects and
Vacant/Underutilized Sites and Buildings:
a) Street, Utility, Landscape and Streetscape Improvements: This category includes TIRZ-eligible
expenditures for improvements to local streets, including paving, utility infrastructure
upgrades/relocation (water, wastewater, storm water), burial of overhead utilities as well as
lighting improvements, street trees/planters, trails, and sidewalk improvements for enhancing
pedestrian linkages between the downtown core and surrounding neighborhoods. Key street,
utility, and streetscape improvements anticipated during the life of the TIRZ are as outlined in
both the 2018 Downtown Plan and the Toole Design Group Downtown Visioning Plan and
include the following streets: Lamar, Clarksville, Bonham, Grand, The Plaza (all sides), Main
Street, West 1St, West 2"d, West 3`d, East 1't, East 2"d, East 3�d, Houston, Price, Kaufman, Austin,
Sherman.
b) Environmental Remediation, Interior/Exterior Demolition, Historic Facade Restoration
Improvements/Easements and Fire Safety Improvements/Grants: The City of Paris Downtown
has a number of buildings that contribute to the historic fabric of the community, however
some of these buildings are sometimes financially unfeasible to properly redevelop because of
the cost of environmental remediation of asbestos, lead-based paint, contaminants, demolition
costs, fagade improvement costs, and fire safety issues. Interior and exterior demolition
expenses are a large part of a remediation project for a historic structure, and often prevent a
private project from moving forward. These costs are TIRZ-eligible expenditures. Remediation
of the environmentally hazardous materials and associated improvements, using TIRZ funds,
greatly improves the marketability of these buildings. This budget category is necessary for
attracting mixed-use and adaptive reuse projects to downtown such as new retail, office and
residential uses.
New construction and fagade improvements that are eligible under this program and within the
historic district will be reviewed for compliance with the adopted design standards to ensure
compatibility with other structures and investments in the area.
Acquisition and restoration of historic sites: Several key historic buildings in the Downtown
area are vacant or substantially underutilized. These buildings are in a serious state of disrepair
that has resulted in the deterioration of exterior architectural features and structural elements,
producing a detrimental effect upon the character of the area as a whole. Acquisition and
restoration of historic buildings by public entities will be supported as a TIRZ-eligible project cost
to enable the redevelopment of these structures.
Only buildings that are designated as a local or State historic landmark; that are listed on the
National Register of Historic Places; or that are designated by the City's Historic Preservation
Commission will be eligible for assistance under this program. The intent of this program is to
support and preserve these recognized historic structures within the Downtown Historic District.
Acquisition of a conservation or beautification easement may preserve the architectural effects
of these buildings by enhancing the fagade of new or redeveloped structures in the Historic
District. The City of Paris, using TIRZ funds, can acquire such an interest in these architecturally
or aesthetically significant structures in the TIRZ, leaving long-term maintenance to the property
owner. Fagade easements may include funding for projects which, first, preserve and/or
rehabilitate existing facades and, secondly, aid in the restoration of facades that have been
significantly altered.
As part of a proposed catalyst project, TIRZ funds may be used by public entities to purchase a
vacant/underutilized property or building and costs related to purchasing the property/building
and developing a redevelopment plan for the property/building, consistent with the economic
development concepts and objectives of the TIRZ.
Administration and Implementation
Administrative costs associated with implementation of projects within the TIRZ, including reasonable
charges for the time spent by City of Paris employees or consultants will be eligible for reimbursement
as project costs, upon approval by the TIRZ Board of Directors and in connection with the
implementation of the TIRZ Project Plan and Financing Plan. Other related administrative expenses
including legal fees and consulting fees of the City, including planning, engineering and design fees,
management expenses, meeting expenditures and equipment are included in this category.
Summary of Project Costs
The following summarizes the anticipated project costs for the TIRZ
Pr�T ae Estimated Cost
Catalyst Projects $22,000,000
Plaza Expansion
1,000,000
Parking Facilities
500,000
Downtown Police Station/Substation
....................... ..........................
Downtown Mixed Use Development or Redevelopment
... .........................................
Employment Center with Residential, Retail &Entertainment
.......... 500,000
5,000,000
5,000,000
Traffic Modifications, Street Improvements, Transit Elements
5,000,000
Farmers Market Redevelopment and Expansion
5,000,000
Vacant/Underutilized Sites and Buildings
Administration and Implementation
$3,000,000
$500,000
TOTAL PROJECT COST $25,500,000